U.S. Stocks Slip After Oil Prices Rise and Nvidia’s Latest Profit Report Gets a Yawn
Nvidia topped quarterly estimates, but profit-taking and higher oil and Treasury yields weighed on the Nasdaq and broader U.S. stocks.
- On Thursday, the SPY and QQQ were mixed as Nvidia stock fell 1.7%, with some analysts suggesting investors locked in profits after the chipmaker's shares soared nearly 70% over the prior year.
- Pressure intensified on Wall Street as the 10-year Treasury yield rose to 4.61% from 4.57% late Wednesday, weighing on stock prices and curtailing corporate borrowing for artificial intelligence infrastructure.
- Brent crude oil prices climbed 2.6% to $107.76 amid uncertainty regarding the war with Iran, as the conflict threatens to keep the Strait of Hormuz shut and prevent tankers from exiting the Persian Gulf.
- Elsewhere on Wall Street, Walmart fell 7.8% following weak profit forecasts, while Ralph Lauren jumped 11.3% on strong earnings and ELF rose 9.03% after beating quarterly revenue estimates of $449.29 million.
- International indexes remained mixed, though South Korea's Kospi Kospi soared 8.4% and Samsung Electronics jumped 8.5% after averting a strike, while Hynix, a chip company partnering with Nvidia, surged 11.2%.
24 Articles
24 Articles
The Korea Times
US stocks slip after oil prices rise and Nvidia's latest profit report gets a yawn
NEW YORK — The U.S. stock market is slipping Thursday after oil prices resumed their climb. The S&P 500 fell 0.3 percent and is on track for a four...
The EagleHerald
US stocks drift after oil prices rise and Nvidia's latest profit report gets a yawn
The U.S. stock market is drifting following a rebound for oil prices and mixed reports on the U.S. economy. The S&P 500 fell 0.3% Thursday and is on track for a fourth drop in five days after setting its all-time…
Nvidia rose slightly on New York stock exchanges on Thursday. The largest seller of chips for artificial intelligence (AI) once again achieved record results last quarter due to the continued high demand for chips for AI data centers. According to CEO Jensen Huang, the construction of AI factories is proceeding at "exceptional speeds" and represents the "greatest expansion of infrastructure in human history."
Stock Market Today: Dow Jones Futures Gain, But Nasdaq Falls After NVDA's Q1 Results—Nvidia, Nebius Group
U.S. stock futures were mixed on Thursday following Nvidia Corp.‘s (NASDAQ:NVDA) first-quarter earnings results released after Wednesday’s higher close. Not long after Nvidia released its earnings results, SpaceX submitted its S-1 registration statement to the SEC. The filing provided a rare public glimpse into the company's financial health just ahead of its upcoming investor roadshow scheduled for June. Meanwhile, the 10-year Treasury bond yie…
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